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FRANKLIN and WAUKESHA, Wis. — BMO’s Healthcare Real Estate group has provided a $70.6 million bridge loan for a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management as part of a larger programmatic relationship focused on acquiring, developing, and operating senior living communities.
The BMO loan is secured by two senior living communities totaling 290 units in Franklin and Waukesha. Loan proceeds include capital allocated for future capital improvements and value enhancement.
Further details were not disclosed.